Braemar Hotels & Resorts ( (BHR) ) has released its Q4 earnings. Here is a breakdown of the information Braemar Hotels & Resorts presented to its investors.
Braemar Hotels & Resorts is a real estate investment trust (REIT) specializing in luxury hotels and resorts, with a focus on high-end properties in key markets. The company recently released its financial results for the fourth quarter and full year of 2024, showcasing a mix of performance metrics.
In the fourth quarter of 2024, Braemar Hotels & Resorts reported a slight increase in key performance metrics such as RevPAR and ADR, with RevPAR growing by 1.9% to $305 and ADR increasing by 0.4% to $480. However, the company faced a net loss attributable to common stockholders of $31.1 million for the quarter. Despite this, the company maintained a solid cash position with $135.5 million in cash and cash equivalents.
For the full year 2024, the company experienced a slight decline in RevPAR and ADR compared to 2023, with RevPAR decreasing by 0.3% and ADR by 2.2%. The net loss for the year was $50.9 million, but Braemar managed to achieve an adjusted EBITDAre of $157.6 million. The company also invested $70.6 million in capital expenditures throughout the year.
Looking forward, Braemar Hotels & Resorts is optimistic about 2025, with strong momentum and solid forward bookings driven by improving industry fundamentals. The company is well-positioned to benefit from potential interest rate cuts, which could reduce its cost of debt capital and improve cash flow. Management remains focused on creating shareholder value and believes the portfolio is poised to outperform in the coming year.